Here is an excerpt from our experts article coming out this Friday in the Birmingham Business Journal:

According to the Rockefeller Institute of Government, state tax collections fell by nearly 12% in the first quarter of 2009, with 45 states reporting declines—and early indications for April and May show an overall decline of nearly 20% for total taxes. These budget shortfalls will add increased pressures to the employment picture at the worst possible time.

It is human nature to inherently be optimistic. However, this game of perception versus reality can result in a very harmful outcome for consumers, investors, and companies alike. If the bursting of the housing and credit bubbles have taught us anything, it is wise to manage expectations in a realistic fashion, be conservative by planning for the worst case scenario, and not allow the masses to alter one’s convictions.